Weekly Unemployment Claims Edge Higher
The number of Americans filing for unemployment benefits for the first time increased modestly during the week ended July 25, although new claims remained close to historically low levels, highlighting the continued resilience of the U.S. labour market.
According to the Labor Department, initial jobless claims rose by 9,000 to 197,000 from the previous week’s revised total of 188,000.
The latest reading was broadly in line with economists’ expectations, who had forecast claims would increase to 200,000.
The previous week’s figure, originally reported at 187,000, represented the lowest level of initial claims since September 1969 before being revised slightly higher.
Four-Week Average Continues to Decline
The report also showed further improvement in the less volatile four-week moving average, which is often viewed as a better indicator of underlying labour market trends.
The four-week average declined by 5,000 to 202,750, compared with the previous week’s revised average of 207,750.
The relatively low level of both weekly claims and the moving average suggests layoffs remain limited despite ongoing uncertainty surrounding the broader economic outlook.